3 New Documents Everyone in Government and Nonprofit Services Needs Right Now
The Department of Education today released the long awaited Employment Certification for Public Service Loan Forgiveness form! Woot!
Folks in government and 501(c)(3) nonprofit service* can finally get that warm and fuzzy feeling that will come from the government saying “yes” your employment qualifies and “yes” you made x number of payments that count towards forgiveness.
Why This Is Important
Student loan borrowers can earn Public Service Loan Forgiveness by making 120 of the right kind of payments, on the right kind of loans, while working in the right kind of job*. But you also have to PROVE that you met all the requirements of the program. That’s where the paperwork comes in.
Nothing about Public Service Loan Forgiveness is automatic. Not one thing. Student loan borrowers will need to jump through a whole lot of hoops to establish that they have earned the forgiveness. Flaming hoops probably. But student loan borrowers aren’t afraid of a little paperwork, right? We say Bring. It. On.
If you think you are working for a qualifying public service employer and you’re working toward Public Service Loan Forgiveness, YOU NEED THIS FORM. You love this form. This form is your BFF.
Run, don’t walk, and download these documents:
Instructions for Completing the Employment Certification for Public Service Loan Forgiveness form
Employment Certification for Public Service Loan Forgiveness form
Department of Education’s Letter to Borrowers about the process
Read it all. Fill out your part and take the documents to your work. Figure out who is authorized to sign for your employer and ask that person to fill out their part fully and carefully. Make sure everything is totally filled in and then submit the form to:
P.O. Box 69184
Harrisburg, PA 17106-9184
Or Fax to 717-720-1628
Do this every year and whenever you change jobs. Keep copies of your W-2s and paystubs, and whatever else you think documents your employment or supports your employer's eligibility. Keep this stuff until the end of time. Forever. And then keep it some more. I recommend the paranoid method of record keeping in this case.
For help with the form call FedLoan Servicing: 855-265-4038
More from the Department of Education: www.studentaid.ed.gov/publicservice
More details and opportunity to ask Heather during upcoming Free Public Service Loan Forgiveness Webinars.
*Note for all clergy, rabbis, priests, imams, preachers, pastors, ayatollahs, and others: New language included in these forms indicates the Department of Education is taking the position that an individual borrower’s employment does not qualify when the borrower is employed in a nonprofit organization and their job duties are related to religious instruction, worship services, or any form of proselytizing. Heather will post more analysis and information about this recent development ASAP.